Post

Avatar
Iron Spike @ironspike.bsky.social · 16 days
Maybe you’re ready to stop talking about the FaZe Clan SPAC, but I’m sorry, I will just never be in that place Like… this was allowed to happen Some venture capitalist dipshits were srsly like “CoD trick shot compilations? Yeah that’s worth a million bazillion, that needs to be publicly traded!”
Avatar
Iron Spike @ironspike.bsky.social · 16 days
W H A T .
Avatar
Iron Spike @ironspike.bsky.social · 16 days
Tracking stock market activity is like reading the Bible, once you see what’s actually fucking IN there, nothing will turn you into a skeptic faster
Avatar
Iron Spike @ironspike.bsky.social · 16 days
THIS HAPPENED youtu.be/A0ghMmVpU0g?...
FaZe Clan: The World's Dumbest SPACyoutu.be 💰 Use code "WSM" to get Kudos for FREE and double your rewards ▸ https://joinkudos.com/wsm 💰 Dive into the sensational journey of FaZe Clan, the very first pure-play Esports company to grace the major US stock exchange with a $725M valuation. From its humble beginnings with a group of friends showcasing their COD trick shots on YouTube to becoming Esports titans with millions of followers and substantial revenue streams – FaZe Clan's story is nothing short of remarkable. 🎖️ But, like many tales of meteoric rise, there's a flip side. After an impressive ascent, they've faced a sharp decline, with stock prices plummeting to a staggering 97% drop, pushing them to the brink of delisting from NASDAQ. 📊 What went wrong? Were there red flags that investors missed? 🚩 Join us as we unpack the details, tracing back to the inception of FaZe Clan and highlighting crucial missteps that led to their financial downfall. A story of triumph, turbulence, and valuable lessons for investors and Esports enthusiasts alike. Check out our second channel Broken Business Models where we discuss unusual or otherwise suspect businesses that may be unviable: https://www.youtube.com/@BrokenBusinessModels 0:00 - 3:08 Intro 3:09 - 9:12 FaZe business model 9:13 - 15:34 Red flags 15:35 Fundamental problems #fazeclan #esports #wallstreetmillennial Email us: [email protected] Check out our new podcast on Spotify: https://open.spotify.com/show/4UZL13dUPYW1s4XtvHcEwt?si=08579cc0424d4999&nd=1 All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, wallstreetmillennial.com, and we can sort it out. –––––––––––––––––––––––––––––– Buddha by Kontekst https://soundcloud.com/kontekstmusic Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 Free Download / Stream: http://bit.ly/2Pe7mBN Music promoted by Audio Library https://youtu.be/b6jK2t3lcRs ––––––––––––––––––––––––––––––
Avatar
Full Tom Boogie 🍉 🇺🇦 @tomtificate.bsky.social · 16 days
And I thought the dumbest things that happened involving them is that they paid people at DC to make a Batman comic with them in it and that somehow someone at ESPN was like “hey you know 30 For 30, the classiest thing we do? Yeah we need to make one about these douches.”
Avatar
BlonicYouth @blonicyouth.bsky.social · 16 days
you know, its weird but I'm starting to think that rich guys aren't as smart as they say they are?
Avatar
EvilAnagram @evilanagram.bsky.social · 16 days
Lol, being a SPAC is red flag enough, but a SPAC for this? For this???
Avatar
botany @botany.bsky.social · 16 days
sorry, what's a SPAC?
Avatar
EvilAnagram @evilanagram.bsky.social · 16 days
Basically, a SPAC is public company that doesn't do anything and is formed to raise funds to purchase a private company that does something. Why? Usually because the private company wants to go public without making a ton of disclosures to the SEC and investors. Because they have things to hide.
Avatar
botany @botany.bsky.social · 16 days
ahhh i see, thank you for the explanation!
Avatar
Death will not release you!𓅽 @7leaguebootdisk.bsky.social · 16 days
It's an extra sleazy way for a company to go public www.investopedia.com/terms/s/spac...
Special Purpose Acquisition Company (SPAC) Explained: Examples and Riskswww.investopedia.com A special purpose acquisition company (SPAC) is a publicly traded company created for the purpose of acquiring or merging with an existing company.
Avatar
Learning Laser @learninglaser.bsky.social · 16 days
Oh is THAT why we had a Batman recruits the FAZE clan comic, it's even dumber than I thought at the time
Avatar
george du bois @kuriousgeorge.bsky.social · 16 days
Especially since esport orgs tend to be loss-leaders for the parent companies. To trade stock in it sounds stupid unless you're shorting them..
Avatar
☕️ Jeremy Diamond @dmnd.me · 16 days
It’s all narratives, it just happens that for several decades those narratives have largely been driven by people who enjoy reading and discussing financial statements